Shore Capital Reiterates Buy Rating for Bytes Technology Group (LON:BYIT)

Shore Capital restated their buy rating on shares of Bytes Technology Group (LON:BYITFree Report) in a research report report published on Tuesday, MarketBeat Ratings reports.

Bytes Technology Group Price Performance

Shares of LON BYIT opened at GBX 475 ($6.20) on Tuesday. The firm has a market cap of £1.14 billion, a P/E ratio of 2,500.00, a price-to-earnings-growth ratio of 2.27 and a beta of 0.65. The company has a current ratio of 1.08, a quick ratio of 0.98 and a debt-to-equity ratio of 3.50. Bytes Technology Group has a 1-year low of GBX 433.80 ($5.66) and a 1-year high of GBX 665 ($8.68). The business’s 50 day moving average is GBX 484.57 and its 200-day moving average is GBX 506.51.

Bytes Technology Group Cuts Dividend

The firm also recently declared a dividend, which will be paid on Friday, November 22nd. Stockholders of record on Thursday, November 7th will be paid a GBX 3.10 ($0.04) dividend. The ex-dividend date is Thursday, November 7th. This represents a dividend yield of 0.65%. Bytes Technology Group’s payout ratio is 4,736.84%.

Insider Activity

In other news, insider Sam Mudd acquired 5,000 shares of the stock in a transaction dated Thursday, August 1st. The stock was bought at an average price of GBX 506 ($6.61) per share, with a total value of £25,300 ($33,037.35). Corporate insiders own 9.51% of the company’s stock.

About Bytes Technology Group

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Bytes Technology Group plc offers software, IT security, hardware, and cloud services in the United Kingdom, rest of Europe, and internationally. The company sells servers, laptops, and other devices; various cloud-based and non-cloud-based licenses; and externally and internally provided training and consulting services.

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